This year 2009 brings with it quite a uncertainty for the Business Process Outsourcing market in the Asia Pacific region. The restructuring of the American financial services industry and the accompanying economic downtrend is effecting the offshoring activity world wide.
The Banking, Financial Services and Insurance sector accounts for a significant percentage of outsourcing business in Asia Pacic region, second to the Telecommunications vertical. Systemic changes and a flurry of merger and acquisition activity will surely have important consequences for the offshoring such business. Budget cuts are inevitable, and this may lead to a slowdown in growth and increased pricing pressure in the short term, since there will be continued pressure on the financial institutions to cut costs, it is likely that existing contracts will not be scaled back.
Complete article can be found at Businessworld.
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